Minister Bayraktar answered questions at the St. Petersburg International Economic Forum (SPIEF), where he participated as a speaker and also held discussions with Russian officials.

Bayraktar highlighted that natural gas and nuclear energy are key topics for Turkey in terms of energy, emphasizing that there is significant cooperation with Russia in these areas.

In his speech at SPIEF, Bayraktar explained Turkey’s energy goals, stating, “We discussed what we plan to do in the upcoming period and evaluated cooperation opportunities.”

He pointed out that President Recep Tayyip Erdoğan and Russian President Vladimir Putin have set a goal related to establishing a natural gas trade center in Turkey, saying, “We evaluated the roadmap for what we have done and what we will do in connection with this goal.”

Bayraktar mentioned that efforts are ongoing to establish a natural gas trade center in Turkey, highlighting that one of the most important aspects is ensuring that the physical infrastructure is ready for it. He noted that Turkey has made significant advancements in this area, particularly through investments made in recent years. “We are planning to establish an operating company in partnership with BOTAŞ and Gazprom at the Istanbul Financial Center,” he stated.

Explaining that they are in discussions regarding this plan, Bayraktar expressed the desire to present concrete activities in the coming months and bring the trade center to life.

TURKEY PLANS NATURAL RESOURCE TRADE

Bayraktar stressed the significant role of nuclear energy in relations between Turkey and Russia, stating, “Nuclear energy is a crucial component of Turkey’s energy portfolio and vision. It holds substantial importance for Turkey, especially in terms of obtaining clean energy for base load and ensuring energy supply security in the long run.”

He shared that intensive work is underway at the Akkuyu Nuclear Power Plant, stating, “About 30,000 people are currently working hard to activate the first reactor in the coming months. We also evaluated our related activities with our stakeholders.”

Bayraktar emphasized that Turkey aims to reach a total of 12 reactors and 15,000 megawatts of nuclear power by 2050, noting that consultations are being held with Russia’s State Atomic Energy Corporation, Rosatom, regarding this matter.

Noting that Turkey-Russia natural gas trade will enter its 40th year in 2026, Bayraktar said, “In addition to natural gas, we are introducing a project for a power plant that will carry our nuclear relations into the 22nd century, along with other potential projects. We are also planning to intensify a new area, which is natural resources.”

He highlighted that they have had discussions with the Russian Minister of Natural Resources, Alexander Kozlov, regarding this topic, stating, “This is closely related to the Turkey Energy and Mining Exchange that we are planning to establish and develop at the Istanbul Financial Center, particularly concerning exploration, production, and metal trade. We had a very comprehensive meeting, and I hope this collaboration will advance to a much higher level.”

THE NEED FOR NUCLEAR ENERGY IS INCREASING WORLDWIDE

Bayraktar indicated that nuclear energy holds significant importance in the goal set by President Erdoğan for Turkey to achieve a carbon-neutral economy within the next 30 years. He stated, “This is a target that involves many important, challenging changes we need to make regarding global warming and Turkey’s contribution. We need changes in various areas, from transportation to agriculture and from agriculture to industry and energy.”

He noted that electrification is growing significantly, both in Turkey and globally, and that the demand for electricity is expected to increase even further due to the impacts of digitalization and artificial intelligence in buildings, transportation, and industry.

Emphasizing the need for clean energy sources to meet this demand, Bayraktar said, “We are a very important renewable energy country. To effectively integrate these renewable resources into the system, we must have base load power plants to support them.”

He pointed out that natural gas is coming to the forefront in this respect due to its environmentally friendly nature, and nuclear energy, which has zero emissions, is crucial for increasing the share of renewable energy as well.

Bayraktar noted that this trend is observed globally, saying, “At COP28, we set an important goal regarding energy transformation and combating global warming, which is to triple the current installed nuclear capacity. This actually aligns with the goals we have been promoting for a long time.”


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